Texas Business Lawyer

Swiss Bankers Trained to Evade Law Enforcement

admin — Fri, 18 Jul 2008 17:05:01 +0000

A United States Senate subcommittee revealed that Swiss bankers associated with UBS were given training on detecting and evading suspicion from law enforcement officials. The training was part of an effort to target wealthy North Americans and assist them in evading taxes.

The bank has announced they are ceasing to provide offshore banking or securities to United States residents. “I am here to make absolutely clear that UBS genuinely regrets any compliance failures that may have occurred,” said Mark Branson, chief financial officer of the UBS Global Wealth Management and Business Banking.

If you are seeking legal assistance for your business, please contact the Texas business lawyers at the office of Slater and Kennon by dialing 512-472-2431.

Debt Collectors Partner to Assist Healthcare

admin — Mon, 07 Jul 2008 17:00:24 +0000

Affiliated Creditors Inc. and nTelagent have combined forces to assist health care providers in collecting debt. The companies have united to offer their clients the most efficient and ethical services. nTelagent’s technology specialization will assist the larger Affiliated Creditors Incorporated in identifying collectable dollars.

The CEO of nTelagent, Earl T. Winter stated:

With the rise in self-pay accounts, health care service providers must collect payment from individual patients regardless of insured or uninsured status. Because most facilities do not have effective systems in place, this is often an unsuccessful endeavor, which leads to mounting bad debt within the industry. Many health care organizations turn to collection agencies such as Affiliated Creditors to help them with outstanding balances, giving these businesses enormous opportunities to improve the collection process for the client and the patients they care for.

If you are in need of legal assistance regarding debt collection, contact the Texas debt collection lawyers of Slater and Kennon at 512-472-2431 today.

Canada Takes Steps to Combat Terrorism-Related Financing in Real Estate

admin — Wed, 25 Jun 2008 19:24:56 +0000

New federal laws have been enacted to thwart money laundering as well as terrorism-related financing. The laws will require real estate agents to collect and validate more personal information from sellers and buyers. Proof of identification of all parties must be given before a transaction can occur.

If the client whether buyer or seller is a corporation, corporate documentation must be given which names all the corporate directors. The receipt of all funds obtained during transactions must be included in a report written by the realtor. In addition, all documentation of identification and receipt of funds must be kept for a minimum of five years and provided to the Financial Transactions and Reports Analysis Centre of Canada.

For more information on real estate law, contact the offices of Slater & Kennon, L.L.P. at 512-472-2431 today.

S.B.A. Leader Vacates Position

admin — Wed, 18 Jun 2008 17:24:42 +0000

Steven C. Preston has moved on from the Small Business Association to become the Secretary of Housing and Urban Development. He is credited with the overhaul of the agency’s loan disaster program which was crushed from aftermath of Hurricane Katrina. His departure is unfortunate as while significant improvements have been made under his watch, there are still many problems. This is especially worrisome given the weakening economy.

It is predicted that a replacement will not be found for at least a year. Cuts by the Bush administration and strain from the hurricanes have taken a huge toll. The SBA’s budget was $482 million this year which is half of what it was in 2001.

For legal assistance with your small business, please contact the Austin business lawyers of Slater & Kennon, L.L.P. -today at 512-472-2431.

Texas Economy Thriving Despite National Slump

admin — Fri, 13 Jun 2008 13:23:25 +0000

As the national economy falters, Texans have reason to rejoice, according to state Comptroller Susan Combs.

Speaking in Beaumont this week, Combs was upbeat about the growth of the Texas economy. She said that Texas accounted for up to 37% of all new jobs created in the United States last year. Texas’ 262,000 new jobs dwarfed its nearest competitor (New York, with 50,000 new jobs) and was greater than the next six states combined.

Combs attributed the success of the Texas economy to an avoidance of the “subprime mess,” a “pro-business climate,” and “reasonable taxes.”

Austin business lawyers Slater & Kennon can help you and your business take advantage of the thriving Texas economy. For help with business formation, business litigation, contract law, and more, call 512-472-2431 today

Study: Delaware Best Legal Environment for Business

admin — Tue, 03 Jun 2008 13:52:12 +0000

For the seventh year in a row, the state of Delaware topped a ranking list comparing the legal environment for conducting business in all 50 states. The annual list, published by the Institute for Legal Reform at the US Chamber of Commerce, compiles results from a survey of nearly 1000 executives from around the country. Rankings are determined by several criteria, including the amount of frivolous lawsuits filed and the efficiency of the state’s legal system. West Virginia was ranked dead last on the list for the third year in a row.

To learn more, contact Austin business lawyers Slater & Kennon, LLP today at 512-472-2431.

Microsoft, Yahoo Negotiating Again

admin — Mon, 19 May 2008 18:40:39 +0000

After rejecting Microsoft’s $31 per share takeover bid recently, Yahoo has come under fire from shareholders, most prominently investor Carl Icahn, who has launched a proxy battle seeking to replace the company’s board of directors. But now, Microsoft and Yahoo are once again sitting down to the bargaining table. This time, the topic of discussion is a proposed partnership between the two companies, the details of which are yet to be released. Still, say many analysts, the partnership proposal is likely to be just another step in Microsoft’s eventual effort to buy out Yahoo.

Austin business lawyers Slater & Kennon, LLP can help you with everything from business formation to contract law. Call 512-472-2431 today to learn more.

Amid Credit Crunch, Banks Wary of Commercial Loans

admin — Mon, 18 Feb 2008 15:04:58 +0000

The financial crisis in the mortgage and real estate industries is sending shock waves throughout the economic sphere, making many banks leery of issuing new commercial loans, particularly to small businesses. Even with a low Federal Funds rate, approximately 1/3 of banks in the U.S. had enacted tougher commercial and industrial loans during the 4th quarter, according to a survey of senior loan officers conducted by the Federal Reserve.

The tougher standards spell difficulties for many businesses, especially smaller, privately-owned businesses, who will have to provide much more detailed and comprehensive information to qualify for loans. Industry experience has also become a large factor in loan applications. The irony of it all is that such tight-fisted loan policies will only aggravate the economic downturn.

In the current economic environment, even getting a loan can be difficult. The good news is, finding an Austin business lawyer doesn’t have to be - call the Slater & Kennon law firm at 512-472-2431 today.

Yahoo Board Rejects Microsoft Buyout Offer

admin — Mon, 11 Feb 2008 15:38:04 +0000

Confirming rumors that had been circulating since last week, the executive board of No. 2 search engine Yahoo! Inc. rejected a $44.6 billion takeover bid by Microsoft Corp., calling the offer of $31 a share too low. Microsoft, which has yet to respond, may consider taking their offer straight to Yahoo shareholders in an attempt to oust the current board. Yahoo stock rose 2% and Microsoft stock fell 1.3% following the offer.

Google Inc., the current No. 1 search engine, has expressed concerns about a possible Microsoft-Yahoo merger, and has suggested that antitrust regulators examine the proposal very carefully.

There are many complex regulations governing how your business can grow and act. If you have questions or concerns about these laws, call an Austin Business lawyer from the law firm of Slater & Kennon at 512-472-2431 right away.

Service Sector Activity Shows First Decline in Five Years

admin — Tue, 05 Feb 2008 20:04:50 +0000

In a development seen as corroborating fears of a recession, a key survey of service-sector executives showed that business activity in the sector declined during the month of January - the first time it has done that in five years. The Institute for Supply Management issued an index rating for the service sector of 41.9, a substantial drop from 54.4 in December of 2007. A rating above 50 indicates sector growth, while a rating below 50 indicates a decline in the sector.

While some economists say the dismal index reading for January is not definitive evidence of a recession by itself, others point out that the service sector is much larger than the troubled manufacturing sector, and that the danger signals cannot be ignored.

The world of business is a tough one, especially when there are legal concerns involved. If your business needs legal counsel or advice, call an Austin business lawyer from Slater and Kennon at 512-472-2431 today.